NEWS: Platinum fell along with other precious metals on expectations for three or more interest rate hikes in the US in 2022.
Possible Scenarios:
If Platinum fails to break below Support 2 of 939.40, our Research Department expects Platinum to undergo a short-term upward correction.
If Platinum manages to break below Support 2 of 939.40, our Research Department expects Platinum to extend its losses to its Support 3 of 932.59.
Support and Resistance Levels:
Platinum |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
932.59 |
939.40 |
946.22 |
955.30 |
964.38 |
971.20 |
978.01 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)88.40€ |
(+/-)73.73£ |
* 1 trading lot is equivalent of 100 units
** EUR/USD = 1.13123
*** GBP/USD = 1.35626
Calculations for exchange rate used as of 13:35 (GMT) 10/01/2022